Sandisk Stock Has Surged More Than 2,000% in a Year. History Suggests This Is Where the Stock Could Be in 2028

Sandisk’s stock has surged more than 2,000% over the past year, with shares up over 2,300% as of the time of writing, even as the name has faced recent pressure. The rally is tied to a sharp jump in NAND flash prices driven by demand outpacing supply. TrendForce expects AI data center servers to account for 44% of total NAND flash demand in 2026. The article notes that enterprise SSDs are increasingly substituting for scarce HDDs, after reported two-year backlogs for enterprise drives. It cites projections that AI storage demand could rise from $36 billion in 2025 to $255 billion by 2034.